Counsyl gets funding for new genetic tests

▤ Summary

Counsyl raised $28 million in new venture capital to support its genetic testing business. The company plans to launch a test that screens men and women for inherited risks of several cancers. It has already screened a quarter-million people for more than 100 rare genetic conditions and uses robots and software to deliver lower-cost testing. The new capital brings Counsyl’s total funding to $93 million and positions it to compete more aggressively in the DNA sequencing market.

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